Jupiter Home Sales Report

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This week we saw Jupiter home sales fall back below the weekly average after an absolutely crazy number of homes selling last week. We saw just 44 homes close this week. That was still an an average of 75 Jupiter homes selling per week which is still an unbelievably strong number for this time of year. As I chat with different agents they are all saying the same thing. Our choices of inventory out there is fair at best. Forget the under $200,000 property. Unless you are there with cash on the first day it hits the market you might as well spend the day at the golf course. I saw some rather strong sales numbers this week with most homes selling between 90 and 97% of asking price. The majority I would say would be 95% plus, so expect to pay about $285,000 for a $300,000 asking price. Don't waste your time trying to low ball with inventory levels so low. Sellers won't even counter you or consider you a serious buyer. There is a fine line between being an insulting offer and getting a good price on the home. Make sure you have  good recent comps to substantiate your offer. That is the key! Even with good comps the sellers are seeing the prices rise and now they have the only house in the neighborhood for sale. So they really don't care what the last house sold for.

This is quite a different scene from just over a year ago where the buyers had the gold and were driving the deals.  No matter if you believe it or not the sellers have the gold now and fewer and fewer are motivated sellers. Most will hold the property rather than accept an low offer.

Posted by Jim McLane on


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